Data sharing, cybersecurity top concerns for banks, customers: Deloitte

Data sharing, cybersecurity and data protection have emerged as the top concern areas for the banks as well as customers, according to a Deloitte’s report on open banking.

“About 70 per cent survey respondents feel that greater emphasis should be made towards data protection by institutions,” said the report ‘Open banking: Unleashing the power of data and seizing new opportunities’.

Deloitte said the insights in the paper are supported by extensive research, past work, and credentials, complemented by a survey to understand customer needs with 400 plus respondents across age groups and population codes.